Short Take: AOL acquires MovieFone

America Online completed its purchase of telephone and online movie ticket service MovieFone. Closure of the $525 million stock deal, in which each share of MovieFone was exchanged for about one-third of a share of America Online stock, came immediately after MovieFone shareholders approved the transaction. AOL said the acquisition will give it access to a host of customers whose first online purchase will be a movie ticket.

America Online completed its purchase of
telephone and online movie ticket service MovieFone. Closure of the $525 million
stock deal, in which each share of MovieFone was exchanged for about
one-third of a share of America Online stock, came immediately after
MovieFone shareholders approved the transaction. AOL said the acquisition
will give it access to a host of customers whose first online purchase will
be a movie ticket.